Here’s another typical story, this time on Long Island…Appraiser does report, client steals $3.1M
Yet another…Appraiser does report, client steals $800K
Over and over we see appraisers being indicted and their appraisal fees are nominal, yet they are indicated alongside those who stole millions from lending institutions.
Q: What does it say about appraisers who get into trouble selling their soul for a few hundred dollars and their clients reaped millions [albeit all parties are indicted]?
A1: They do it with such frequency, they can’t keep track of ethical and unethical appraisals.
A2: They don’t see anything wrong with what they are doing since they aren’t charging a premium for these reports.
A3: They don’t see the value of the service they are providing to the criminals [sorry, thats a stretch] 😉